Bustout Fraud: Catch it fast with advanced analytics
|
|
- Augusta Warren
- 8 years ago
- Views:
Transcription
1 Bustout Fraud: Catch it fast with advanced analytics
2 2 The longer it takes to identify bustout fraud, the more you lose. That s where we come in Tough times are a challenge in more ways than one. Lenders, for instance, usually see increases in bustout fraud, also often referred to as first party fraud. Perpetrators apply for credit using many elements of their real identities, so their applications are not caught by traditional application fraud models. In addition, there are multiple, complex patterns by which bustouts develop after accounts are booked. Part of perpetrators bustout strategy is to appear as legitimate consumers in order to increase their credit limits over time. They typically make purchases and timely payments during the early life of their accounts, and avoid scrutiny by acting like model customers. As a result, even the most sophisticated lenders often struggle to understand the true size of their first-party fraud problem, as many of their losses are masked as collections charge-offs. That s why we created the Opera Solutions Bustout Application, a unique, advanced analytic approach that rides on our Credit & Risk Signal Hub to help lenders understand the actual size of their bustout fraud problem and implement new analytic tools to identify and prevent it earlier than ever before possible. And it s already realizing significant savings: we re delivering $4-$8MM a year for each $10B in receivables for issuers that already have a bureau-based bustout scoring system in place, and even more for those without any scoring system. The problem: bad actors who look like model citizens In many ways, bustout fraud is a crime of opportunity. Sometimes, consumers in dire financial straits desperately apply for credit while their profiles are still adequate to get the accounts approved. In other cases, something far more nefarious is at work: organized crime rings, based here and abroad, recruit consumers to perpetrate this fraud. Whatever the impetus, these consumers typically make modifications or embellishments to their application information, creating a fragmented file at the credit bureaus and allowing them to claim they have been victims of identity theft once their accounts go delinquent and collectors begin to call. Opera Solutions Credit & Risk Signal Hub technologies have the capability to identify the Signals these activities create, quickly and accurately differentiating between the commonplace and the criminal.
3 3 Find more bustout, earlier Savings achieved by detecting bustout earlier 50-55% 25-30% New cases identified using behavioral signatures 10-55% 100% New cases identified using link analysis The sophisticated algorithms of our Credit & Risk Signal Hub technologies pick up the faint Signals of high-risk behavioral signatures for each of the bustout patterns, and do so earlier enabling lenders to take swift action on more bustout activity, and thereby prevent many millions of dollars in losses. Currently Detected Currently Undetected Detected Through Linking Total There are three typical patterns to bustout cases: Rapid, Collusive Merchant, and Long Play. In each, fraudsters spend and pay normally for the first few months, seeking to appear as a typical consumer. Then the patterns change. Rapid Fraudsters rapidly increase spending through purchases, balance transfers, and/or convenience checks. A large payment is made, which frees up even more opportunity to buy. Collusive Merchant Large purchases are made at a single (often newer) merchant. Then payments cease. Long Play Spending and payments increase over many months. Credit limit increases are requested and granted. The customer makes several payments by check and continues to spend up to his or her full credit limit. Then, payments bounce. The solution: better and earlier identification through advanced analytics Each of these schemes has a unique behavioral signature, but each is hard to detect before the damage is done. Indeed, many lenders don t even realize they have been victimized; up to 50% of all bustout cases currently go completely undetected. Using advanced analytics, however, the Opera Solutions Bustout Application offers a far more comprehensive and effective solution to identify nefarious activity and stop bustout in its tracks.
4 4 We apply an advanced, highly-tuned ensemble model that brings together some of the world s most advanced pattern and anomaly detection algorithms against your daily flow of transaction activity, payment activity, and non-monetary transactions. Our approach allows us to pick up the earliest, subtlest signs of bustout, while defining dozens of metrics to serve as objective criteria for taking action and giving lenders the ability to accurately and quickly restrict future authorizations, or suspend suspect accounts. Opera Solutions Bustout Application finds the Signals that tell you what s really going on with your accounts. Purchase Patterns Payment Patterns Shut off Behavior Over Time Purchase Payment Credit line Increase Request Alert Bustout and credit abuse savings Earlier Detection (Days) Reducing the time to detection has major impact on loss avoidance for lenders. For example, Opera Solutions helped one client save over $60MM annually by identifying bustout cases seven days earlier Dollars (Millions) When it comes to bustouts and other frauds, make sure you re on the right side of Gotcha! For more information about the Opera Solutions Bustout Application, and to learn how our Credit & Risk Signal Hub technologies can help you combat other frauds, please contact us at CreditandRiskServices@operasolutions.com.
5 ABOUT OPERA SOLUTIONS, LLC: Opera Solutions drives productivity for enterprise and government through advanced Big Data predictive analytics that create machine-generated directed actions to significantly improve front-line decisions. Its Signal Hub technologies provide organizations an enterprise-wide capability to continually extract and put to use newly available predictive information from outside their firewalls, creating a revolutionary pathway to productivity, profit, and advantage. With 230+ data scientists among its 700 employees, the company is an internationally recognized leader in machine learning. It serves enterprises in Financial Services, Healthcare, Government, Supply Chain, Marketing, and other sectors, with offices in North America, Europe, India, and China. New York Jersey City Boston Washington, DC San Diego London Shanghai New Delhi
OPERA SOLUTIONS CAPABILITIES. ACH and Wire Fraud: advanced anomaly detection to find and stop costly attacks
OPERA SOLUTIONS CAPABILITIES ACH and Wire Fraud: advanced anomaly detection to find and stop costly attacks 2 The information you need to fight fraud does exist You just have to know it when you see it
More informationOPERA SOLUTIONS CAPABILITIES. Automotive Solutions: applying advanced analytics throughout the automotive life cycle
OPERA SOLUTIONS CAPABILITIES Automotive Solutions: applying advanced analytics throughout the automotive life cycle 2 From origination to retention to termination, Opera Solutions takes new routes to higher
More informationHospital Billing Optimizer: Advanced Analytics Solution to Minimize Hospital Systems Revenue Leakage
Hospital Billing Optimizer: Advanced Analytics Solution to Minimize Hospital Systems Revenue Leakage Profit from Big Data flow 2 Tapping the hidden assets in hospitals data Revenue leakage can have a major
More informationSupply Chain: improving performance in pricing, planning, and sourcing
OPERA SOLUTIONS CAPABILITIES Supply Chain: improving performance in pricing, planning, and sourcing Nigel Issa, UK Office European Supply Chain Solutions Lead Profit from Big Data flow 2 Synopsis Technology
More informationSignal Hub for Wealth Management
Signal Hub for Wealth Management Overview of Design and Background The Signal Hub for Wealth Management, which Opera Solutions has deployed to the wealth management industry, has required combining a variety
More informationProfit from Big Data flow. Hospital Revenue Leakage: Minimizing missing charges in hospital systems
Profit from Big Data flow Hospital Revenue Leakage: Minimizing missing charges in hospital systems Hospital Revenue Leakage White Paper 2 Tapping the hidden assets in hospitals data Missed charges on patient
More informationThe New Reality of Synthetic ID Fraud How to Battle the Leading Identity Fraud Tactic in The Digital Age
How to Battle the Leading Identity Fraud Tactic in The Digital Age In the 15 years since synthetic identity fraud emerged as a significant threat, it has become the predominant tactic for fraudsters. The
More informationFraudulent accounts in collections: improve detection and reduce collector workload. An Experian briefing paper
Fraudulent accounts in collections: improve detection and reduce collector workload An Experian briefing paper September 2010 1. The inter-relationship of fraud and collections The fraud and collections
More informationBust-out fraud. Knowing what to look for can safeguard the bottom line. An Experian white paper
Knowing what to look for can safeguard the bottom line An Experian white paper Executive summary Bust-out is a growing area of fraud for the financial services industry. For organizations across the globe,
More informationOPERA SOLUTIONS CAPABILITIES. Collections: reducing charge-offs with advanced analytics
OPERA SOLUTIONS CAPABILITIES Collections: reducing charge-offs with advanced analytics 2 Enhancing collections performance through next generation analytics 1. The delinquency tsunami and the new collections
More informationHospital Staffing Optimizer. Forecasting patient demand for better hospital staffing. Profit from Big Data flow
Hospital Staffing Optimizer Forecasting patient demand for better hospital staffing Profit from Big Data flow 2 Overview Advanced science and predictive analytics can now be applied to accurately predict
More informationNVALUE BEYOND THE NUMBERS
Modeling Credit Card Fraud Michael Alliston UMERACY, LLC NVALUE BEYOND THE NUMBERS NY INFORMS Chapter October 16, 2002 What we will cover today... Fraud as a payment industry problem How Payments and Fraud
More informationDavid Fish. Senior Analyst; Fraud, Risk & Analytics Advisory Service dfish@mercatoradvisorygroup.com
FIRST-PARTY CREDIT CARD FRAUD: TRENDS, ANALYTICS, AND PREVENTION STRATEGIES David Fish Senior Analyst; Fraud, Risk & Analytics Advisory Service dfish@mercatoradvisorygroup.com June 2012 Table of Contents
More informationStopping the Flow of Health Care Fraud with Technology, Data and Analytics
White Paper and New Ways to Fight It Stopping the Flow of Health Care Fraud with Technology, Data and Analytics January 2014 Health care costs are rising and everyone is being affected, including patients,
More informationFraud detection in newly opened accounts. Connecting data helps predict identity theft
Fraud detection in newly opened accounts Connecting data helps predict identity theft Executive summary Fraud continues to be a genuine threat and challenge. After a sharp and unexplained drop in identity
More informationThe Six Critical Considerations of Social Media Threat Intelligence
The Six Critical Considerations of Social Media Threat Intelligence Every day, angry rhetoric and hints of potential danger flow though streams of social media data. Some of these threats may affect your
More informationSAS. Fraud Management. Overview. Real-time scoring of all transactions for fast, accurate fraud detection. Challenges PRODUCT BRIEF
PRODUCT BRIEF SAS Fraud Management Real-time scoring of all transactions for fast, accurate fraud detection Overview Organizations around the globe lose approximately 5 percent of annual revenues to fraud,
More informationon behalf of the National Retail Federation before the
Testimony of Amy Hanson President FACS Group, Inc. Financial, Administrative Credit Services (A Subsidiary of Federated Department Stores, Inc.) Mason, Ohio on behalf of the National Retail Federation
More informationBusting Bust-Out Fraud Five steps for combatting bust-out business fraud
Busting Bust-Out Fraud Five steps for combatting bust-out business fraud In an Annual Report to Nations, occupational fraud accounted for some 5 percent of a typical company s annual revenue. 1 THE RISE
More informationIDENTITY THEFT. Public Advisory. This Public Advisory is a publication of the Nassau County Police Department.
Public Advisory 0312 This Public Advisory is a publication of the Nassau County Police Department. For further information, call the Nassau County Police Department Public Information Office at 516-573-7135.
More informationWHITE PAPER. Internet Gambling Sites. Expose Fraud Rings and Stop Repeat Offenders with Device Reputation
WHITE PAPER Internet Gambling Sites Expose Fraud Rings and Stop Repeat Offenders with Device Reputation Table of Contents Confident Casinos: How to stop fraud before it starts 1 Organized Fraud: A Growing
More informationPreventing Healthcare Fraud through Predictive Modeling. Category: Improving State Operations
Preventing Healthcare Fraud through Predictive Modeling Category: Improving State Operations Commonwealth of Massachusetts Executive Office of Health and Human Services Project initiated: July 2012 Project
More informationFraud from the Inside: Effectively Detecting and Preventing Employee Fraud. Phil Collins and Jacob Gutting FIS Risk, Fraud and Compliance Solutions
Fraud from the Inside: Effectively Detecting and Preventing Employee Fraud Phil Collins and Jacob Gutting FIS Risk, Fraud and Compliance Solutions A Little About Us: Who are Jake and Phil? Phil Collins
More informationAbout Credit. Financial Literacy
About Credit Financial Literacy What is Credit? Credit is the ability to borrow money with a promise of future payment. Why borrow? Goals - car, appliances, furniture, etc Home Education Health Plan your
More informationProtect Your Personal Information. Tips and tools to help safeguard you against identity theft
Protect Your Personal Information Tips and tools to help safeguard you against identity theft Trademark of Visa International Service Association; Visa Canada Association is a licensed user. What is Identity
More informationT E X A S Y O U N G L A W Y E R S A S S O C I A T I O N A N D S T A T E B A R O F T E X A S I D E N T I T Y T H E F T G U I D E
T E X A S Y O U N G L A W Y E R S A S S O C I A T I O N A N D S T A T E B A R O F T E X A S I D E N T I T Y T H E F T G U I D E A I D E N T I T Y T H E F T G U I D E Prepared and distributed as a Public
More informationKey Factors for Payers in Fraud and Abuse Prevention. Protect against fraud and abuse with a multi-layered approach to claims management.
White Paper Protect against fraud and abuse with a multi-layered approach to claims management. October 2012 Whether an act is technically labeled health insurance fraud or health insurance abuse, the
More informationPreventing Health Care Fraud
Preventing Health Care Fraud Project: Predictive Modeling for Fraud Detection at MassHealth Category: Improving State Operations Commonwealth of Massachusetts Executive Office of Health and Human Services
More informationSpotting ID Theft Red Flags A Guide for FACTA Compliance. An IDology, Inc. Whitepaper
Spotting ID Theft Red Flags A Guide for FACTA Compliance An IDology, Inc. Whitepaper With a November 1 st deadline looming for financial companies and creditors to comply with Sections 114 and 315 of the
More informationOIG Fraud Alert Phishing
U.S. EQUAL EMPLOYMENT OPPORTUNITY COMMISSION Washington, D.C. 20507 Office of Inspector General Aletha L. Brown Inspector General July 22, 2005 OIG Fraud Alert Phishing What is Phishing? Phishing is a
More informationHow to Deal With Telemarketing Scams
Preventative Maintenance Obtain a free copy of your credit report annually by visiting www.annualcreditreport.com or by calling 1-877-322-8228. Review your report carefully for any suspicious activity,
More informationIdentity Theft Assistance: Information for Recovering Your Good Name
Identity Theft Assistance: Information for Recovering Your Good Name I Could Be A Victim of Identity Theft! What Do I Do Next? We understand that you may have been a victim of identity theft. Enclosed
More informationClient Education. Learn About Identity Theft
Client Education Learn About Identity Theft 2 What is identity theft? 6 Detecting identity theft 10 Minimizing your risk 14 What to do if you re a victim The Federal Trade Commission (FTC) estimates that
More informationFacts. Your Credit Card Rights
NATIONAL CONSUMER LAW CENTER INC Consumer 77 Summer Street, 10th Fl Boston, MA 02110 617 542-8010 www.nclc.org Facts for Older Americans Your Credit Card Rights Most credit card consumers experience problems
More informationI know what is identity theft but how do I know if mine has been stolen?
What is identity theft? You might hear stories on the news about stolen identities, but what is identity theft? When someone uses the personal information that identifies you, like your name, credit card
More informationFighting Future Fraud A Strategy for Using Big Data, Machine Learning, and Data Lakes to Fight Mobile Communications Fraud
Fighting Future Fraud A Strategy for Using Big Data, Machine Learning, and Data Lakes to Fight Mobile Communications Fraud Authored by: Dr. Ian Howells Dr. Volkmar Scharf-Katz Padraig Stapleton 1 TABLE
More informationHealth Insurance Fraud Prevention. Using technology to prevent and detect billing and claims fraud
Health Insurance Fraud Prevention Using technology to prevent and detect billing and claims fraud HICFG Steering Group 1 x rep from each of the 10 member companies. (senior manager or delegated rep) Chair
More informationCiti Identity Theft Solutions
Identity Theft what you need to know Citi Identity Theft Solutions At Citi, we want to keep you informed about all of the issues that can affect your financial life. We re bringing you helpful information
More informationA Unique Perspective into the World of Identity Fraud
White Paper A Unique Perspective into the World of Identity Fraud Explore the value of LexisNexis FraudPoint solutions in fraud detection. Risk Solutions Identity Management Executive Summary There are
More informationWhat You Should Know About Your Credit Report
FACTS FOR National Consumer Law Center What You Should Know About Your Credit Report If you have ever applied for a credit card, a personal loan, insurance, or a job, there is probably a company keeping
More informationINTRODUCTION. Identity Theft Crime Victim Assistance Kit
Identity Theft Crime Victim Assistance Kit INTRODUCTION In the course of a busy day, you may write a check at the grocery store, charge tickets to a ball game, rent a car, mail your tax returns, change
More informationPREDICTIVE ANALYTICS IN FRAUD
PREDICTIVE ANALYTICS IN FRAUD Click Scott to White edit Master subtitle style Business Development Manager Why predict? Organizations that use predictive business performance metrics will increase their
More informationNow is the time for a fresh approach to detecting fraud
Now is the time for a fresh approach to detecting fraud Learn where today s fraud detection falls short and what you can do about it. Read on. Table of Contents Now is the time for a fresh approach to
More informationIdentityTheft HOW IDENTITY THEFT HAPPENS PROTECTING YOURSELF RECOVERING FROM IDENTITY THEFT
CREDIT What You Should Know About... IdentityTheft HOW IDENTITY THEFT HAPPENS PROTECTING YOURSELF RECOVERING FROM IDENTITY THEFT YourMoneyCounts You may have heard of a crime called identity theft, but
More informationA CHASE PAYMENTECH WHITE PAPER. Expanding internationally: Strategies to combat online fraud
A CHASE PAYMENTECH WHITE PAPER Expanding internationally: Strategies to combat online fraud Fraud impacts nearly eight in every ten international online retailers 1. It hampers prospects for growth, restricts
More informationWHITEPAPER. Complying with the Red Flag Rules and FACT Act Address Discrepancy Rules
WHITEPAPER Complying with the Red Flag Rules and FACT Act Address Discrepancy Rules May 2008 2 Table of Contents Introduction 3 ID Analytics for Compliance and the Red Flag Rules 4 Comparison with Alternative
More informationAn effective approach to preventing application fraud. Experian Fraud Analytics
An effective approach to preventing application fraud Experian Fraud Analytics The growing threat of application fraud Fraud attacks are increasing across the world Application fraud is a rapidly growing
More informationProduct. Onboard Advisor Minimize Account Risk Through a Single, Integrated Onboarding Solution
Product Onboard Advisor Minimize Account Risk Through a Single, Integrated Onboarding Solution Product Losses from account fraud and debit risk are growing, so you ve got to move quickly and decisively
More informationFighting Identity Fraud with Data Mining. Groundbreaking means to prevent fraud in identity management solutions
Fighting Identity Fraud with Data Mining Groundbreaking means to prevent fraud in identity management solutions Contents Executive summary Executive summary 3 The impact of identity fraud? 4 The forgery
More informationCashShield. Fraud Protection Solution. www.cashrun.com. Singapore Switzerland Germany China United States. Fraud Protection & Safe Payment Solutions
CashShield Fraud Protection Solution CASHRUN Fraud Protection & Safe Payment Solutions www.cashrun.com Singapore Switzerland Germany China United States GROWTH THROUGH VERIFIED TRANSACTIONS About CashRun
More informationThe Facets of Fraud. A layered approach to fraud prevention
The Facets of Fraud A layered approach to fraud prevention Recognizing Fraud The various guises of fraud lead many organizations to believe they are not victims of deception or to vastly underestimate
More informationThe elderly are often specifically targeted for identity theft. Identity
Identity Theft and the Elderly The elderly are often specifically targeted for identity theft. Identity theft and fraud against the elderly is a particularly insidious problem because in many instances,
More informationStatement of. Mark Nelsen. Senior Vice President, Risk Products and Business Intelligence. Visa Inc. House Ways & Means Subcommittee.
Statement of Mark Nelsen Senior Vice President, Risk Products and Business Intelligence Visa Inc. House Ways & Means Subcommittee on Oversight Hearing on The Use of Data to Stop Medicare Fraud March 24,
More informationChild Identity Fraud - Current Trends and Advantages
WHITEPAPER 2011 Child Identity Fraud Study July 2011 2 Table of Contents Introduction 3 Key Findings 3 Background on Child Identity Fraud 4 Research on Child Identity Fraud 4 Description of the Consumer
More informationDVD Companion Learning Guide
DVD Companion Learning Guide How to Use This Learning Guide This learning guide is a companion to the DVD, Identity Theft: Outsmarting the Crooks It can be used to guide classroom discussion of the material
More informationPrevention is Better than Cure: Protect Your Medical Identity
Prevention is Better than Cure: Protect Your Medical Identity Center for Program Integrity Centers for Medicare & Medicaid Services Shantanu Agrawal, MD, MPhil Medical Director Washington State Medical
More informationEL/Civics Lesson Plan
Program Name Staff Responsible for Lesson MVCTC EL/Civics Program Mary Ann Oatney Date(s) Used 11/2007 Civics Category Civics Objective Time Frame to Complete Lesson EFL(s) II. Civics Participation II.
More informationCORPORATE IDENTITY FRAUD: A PRIMER
CORPORATE IDENTITY FRAUD: A PRIMER Hanim Norza Baba, Head of Graduate Studies Center, Universiti Teknologi MARA, Melaka, Malaysia. drhanimnorzababa@gmail.com ABSTRACT Corporate identity fraud occurs when
More informationCyberArk Privileged Threat Analytics. Solution Brief
CyberArk Privileged Threat Analytics Solution Brief Table of Contents The New Security Battleground: Inside Your Network...3 Privileged Account Security...3 CyberArk Privileged Threat Analytics : Detect
More informationWhy Data Security is Critical to Your Brand
Why Data Security is Critical to Your Brand Why security is critical to your brand Cybercriminals do not discriminate based on industry or business size. Security is expensive. At least, it is if you wait
More informationProtect Your Personal Information. Tips and tools to help safeguard you against identity theft
Protect Your Personal Information Tips and tools to help safeguard you against identity theft Trademark of Visa International Service Association; Visa Canada Association is a licensed user. WHAT IS IDENTITY
More informationMONEY MISTAKES. Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.
MONEY MISTAKES Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.org Congratulations on taking this important step to learn about issues dealing
More informationSynthetic ID Fraud. Pervasive, Misunderstood, and Unknown. Monday, April 20th 10:15-11:15 AM
Synthetic ID Fraud Pervasive, Misunderstood, and Unknown Monday, April 20th 10:15-11:15 AM Bob Cofod Director SightSpan Barbara Simcox Director of Investigations and Training Turnkey Risk Solutions Steven
More informationInternet Insurance Fraud Rings
Page 1 of 5 Date: Regarding: Internet Insurance Fraud Rings - Florida 2010 For Dissemination to Member Company SIUs and Law Enforcement Prepared By: Kathy Novak, Field Information Analyst Internet Insurance
More informationLife Settlement Financial, LLC San Rafael, California. Anti-Money Laundering Policy January 1, 2009
Life Settlement Financial, LLC San Rafael, California Anti-Money Laundering Policy January 1, 2009 Money Laundering - Defined... 1 Suspicious Activity - Defined... 1 Suspicious Activity Commercial Accounts...
More informationThe State of Insurance Fraud Technology. A study of insurer use, strategies and plans for anti-fraud technology
The State of Insurance Fraud Technology A study of insurer use, strategies and plans for anti-fraud technology September 2014 The State of Insurance Fraud Technology A study of insurer use, strategies
More informationWhite Paper. Predictive Modeling for True-Name Fraud An Equifax Analytical Services Research Paper
White Paper Predictive Modeling for True-Name Fraud An Equifax Analytical Services Research Paper Dave Whitin, Consultant Michiko Wolcott, Statistician September 2006 Table of contents Executive summary...................................
More informationWarranty Fraud Detection & Prevention
Warranty Fraud Detection & Prevention Venky Rao North American Predictive Analytics Segment Leader Agenda IBM SPSS Predictive Analytics for Warranties: Case Studies Why address the Warranties process:
More informationInternet Advertising: Is Your Browser Putting You at Risk?
ANALYST BRIEF Is Your Browser Putting You at Risk? PART 2: CLICK FRAUD Authors Francisco Artes, Stefan Frei, Ken Baylor, Jayendra Pathak, Bob Walder Overview The US online advertising market in 2011 was
More informationFight identity-theft tax fraud with integrated layers of authentication
WHITE PAPER Fight identity-theft tax fraud with integrated layers of authentication Jeffrey Huth Vice President, Product Strategy TransUnion Government Information Solutions Executive summary Identity-theft
More informationThe Changing World of Big Data. And How to Profit from It
And How to Profit from It ig Data has always been, by definition, massive. But with constantly increasing numbers of smart connected Bdevices, more and more sensors in machines, and the continuing spread
More informationIDENTITY PROTECTION MEMBER. Protect Your Identity. Security of Personal Information is Our Top Priority
MEMBER IDENTITY PROTECTION Protect Your Identity Security of Personal Information is Our Top Priority Imagine this Unexpectedly, you get turned down for a loan, you get a call from a collection agency
More informationInformation to Protect Our Customers From Identity Theft
Our Customers From Identity Theft Identity (ID) Theft Capital One understands that ID Theft is a growing concern of our customers, and that it is a frustrating experience for victims. We share these concerns
More informationThe Long Con: An Analysis of Synthetic Identities
WHITEPAPER The Long Con: An Analysis of Synthetic Identities October 2014 2 Table of Contents Introduction 3 Defining Synthetic Identities 4 Differentiating Synthetic Identity Fraud 5 Synthetic Fraud and
More informationDriving profitability and minimizing risk through portfolio management
Driving profitability and minimizing risk through portfolio management Market Insight from Experian Page 1 Executive summary As the economy recovers, managers of small-business portfolios must always
More informationMass Marketing Fraud Affecting Canadian Businesses 2015-10-30
Mass Marketing Fraud Affecting Canadian Businesses 2015-10-30 About The CAFC The Canadian Anti-Fraud Centre (CAFC) is an international call centre specializing in central sourcing complaints on mass marketing
More informationBest Practices in Account Takeover
WHITEPAPER Best Practices in Account Takeover July 2013 2 Table of Contents Introduction 3 Account Takeover is Painful 4 Differences between Account Takeover and Account Compromise 4 Why Account Compromise
More informationIdentity Theft and Strategies for Crime Prevention
Identity Theft and Strategies for Crime Prevention National Crime Prevention Council 2005 Objectives What is identity theft? Why worry about it? How does it happen? Why has identity theft emerged? What
More informationSmarter Analytics Leadership Summit Content Review
Smarter Analytics Leadership Summit Content Review Agenda Fraud Point of View IBM Claims Fraud Solution Overview Infinity Insurance: Combating Fraud with IBM Claims Fraud Solution Building the Business
More informationWHITE PAPER. Credit Issuers. Stop Application Fraud at the Source With Device Reputation
WHITE PAPER Credit Issuers Stop Application Fraud at the Source With Device Reputation Table of Contents Overview 1 Why you need more than conventional methods of fraud detection 2 It is not just credit
More informationBig Data for Public Safety: 4 use cases for intelligence and law enforcement agencies to leverage Big Data for crime prevention.
Big Data for Public Safety: 4 use cases for intelligence and law enforcement agencies to leverage Big Data for crime prevention. I m not going to get more money. I m not going to get more cops. I have
More informationOnline Gambling Company Reduces Credit Card Fraud by a Factor of Ten Using iovation ReputationManager
case study Online Gambling Company Reduces Credit Card Fraud by a Factor of Ten Using iovation ReputationManager I would not be able to do my job as well as I do without iovation ReputationManager. What
More informationUsing Predictive Analytics to Detect Contract Fraud, Waste, and Abuse Case Study from U.S. Postal Service OIG
Using Predictive Analytics to Detect Contract Fraud, Waste, and Abuse Case Study from U.S. Postal Service OIG MACPA Government & Non Profit Conference April 26, 2013 Isaiah Goodall, Director of Business
More informationFraud Analytics Monitor, Detect and Mitigate Risks. White Paper FRAUD ANALYTICS
White Paper Fraud Analytics Monitor, Detect and Mitigate Risks FRAUD ANALYTICS Role of Analytics In Fraud Management Analytical Tools and their Utility in Fraud Detection Steps For Successful Fraud Analytics
More informationBilling for services or medical equipment not received or medically unnecessary
V E N D O R S P O T L I G H T H e a l t h c a r e Fr a ud Management: Solutions for I d e n t i f i c a t i on and Interve n t i o n November 2011 Adapted from Perspective: 360-Degree View Health Reform
More informationWORKSHEETS 20B-IC (08-12)
WORKSHEETS 20B-IC (08-12) Name: Date: IDENTITY CRIME INTRODUCTION Lesson 1-1 Identity crime: Recognize it, report it and stop it Web quest 1: Identity crime: Recognize it, report it and stop it Directions:
More informationFRAUD DETECTION AND PREVENTION: A DATA ANALYTICS APPROACH BY SESHIKA FERNANDO TECHNICAL LEAD, WSO2
FRAUD DETECTION AND PREVENTION: A DATA ANALYTICS APPROACH BY SESHIKA FERNANDO TECHNICAL LEAD, WSO2 TABLE OF CONTENTS 1. Fraud: The Bad and the Ugly... 03 2. A New Opportunity for Fraud Detection... 03
More informationHandling a Crime Committed by Someone You Know
Handling a Crime Committed by Someone You Know In This Article Friends and family members, not just strangers, are potential identity thieves Victims may feel pressure not to report the crime Dealing with
More informationWhen a parent steals your identity
When a parent steals your identity This crime is not as rare as you might think. And the betrayal (and damage) goes beyond the financial. Here's how it can happen -- and how to tell if it already has.
More informationStrategies for businesses to stop fraud without slowing commerce
WHITE PAPER Enabling Commerce. Mitigating Business Fraud. August 2013 Strategies for businesses to stop fraud without slowing commerce Business fraud is growing at an alarming rate. Many companies struggle
More informationCombating Corporate ID Theft & Fraud
Your pocket guide to Combating Corporate ID Theft & Fraud www.equifax.co.uk Ref: IDTF08 It doesn t take much to commit corporate ID theft and fraud. Contents Copycat................................Page
More informationIdentity Theft Repair Kit
Identity Theft Repair Kit The Identity Theft Repair Kit contains a resolution checklist and resolution worksheets. The checklist will help you keep track of the companies and organizations you should contact
More informationPNC Financial Education FINANCIAL OPS. Banking Solutions for Military Personnel. Credit: Self study Guide
PNC Financial Education FINANCIAL OPS Banking Solutions for Military Personnel Credit: Self study Guide Revision Date: 11/2012 PNC Financial Education:FINANCIAL OPS Understanding Credit We all have financial
More informationFICO Falcon Fraud Manager for Retail Banking
FICO Falcon Fraud Manager for Retail Banking What can you do to protect the current account against fraud attacks? Martin Warwick Principal Consultant Fraud Solutions FICO May 2010 1 2010 Fair Isaac Corporation.
More informationMedical Fraud Detection Through Data Mining Megaputer Case Study www.megaputer.com Megaputer Intelligence, Inc. 120 West Seventh Street, Suite 310 Bloomington, IN 47404, USA +1 812-330-0110 Medical Fraud
More informationIdentity Theft: Your Good Name Gone Bad!
Identity Theft: Your Good Name Gone Bad! What is Identity Theft? Identity theft is when someone illegally obtains a person's identifying information, such as name, address, date of birth, social security
More informationTechnology Advances that Help Stop Tax Refund Fraud and EITC Abuse
Technology Advances that Help Stop Tax Refund Fraud and EITC Abuse FTA Technology Conference July 31, 2013 Presented by: Joan Barr Brian Bequette, Sandy Fitzpatrick 1 [ Agenda ] 1 2 3 Impact of refund
More informationRemarks by. Thomas J. Curry. Comptroller of the Currency. Before the National Community Reinvestment Coalition. Washington, D.C.
Remarks by Thomas J. Curry Comptroller of the Currency Before the National Community Reinvestment Coalition Washington, D.C. March 27, 2015 I d like to begin by thanking John Taylor for that very kind
More informationChild Identity Theft Education Kit
Child Identity Theft Education Kit Who s at Risk? Consider a teenager who is about to start college. She has deposited money into a savings account and is ready to move it into a checking account. Much
More informationYour Credit Score What It Means to You as a Prospective Home Buyer
Ken Buckery Mortgage Lender Alpha Mortgage Phone: (910) 256-8999 Fax: (910) 795-4922 ken.buckery@alphamortgage.com www.kenbuckery.com Your Credit Score What It Means to You as a Prospective Home Buyer
More information